It emerged last week that HSBC Offshore has launched two new offshore funds, marking the latest in its series of Capital Secured Growth Funds (CSGF).
The new UK and European Growth Funds - which offer stock market-linked growth in the UK's top 100 companies (FTSE 100 Index), and the top 50 European companies (Dow Jones EUROSTOXX 50 Index) respectively - were launched on Wednesday, and are being offered for a two month period.
Speaking following the launch, HSBC Offshore's head of investments, Martin Spurling: explained that:
'Demand for capital secured products is stronger than ever,' continuing:
'Our new funds are designed to benefit from indices containing Europe and the UK's top companies. We expect these funds will be successful because world growth is being stimulated by an improved political and economic climate, lower interest rates, and a less volatile oil price.'
He added that: 'The funds will get another boost as Euro companies take advantage of a 40 billion expansion of their home market when ten additional countries join the EU in 2004.'
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